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Paccar posts higher profit on strong North American truck sales  

July 29 (Reuters) - Paccar Inc reported higher quarterly profit on Tuesday, driven by improved sales of its commercial vehicles in North America and strong worldwide sales of its aftermarket parts. The company, which makes trucks sold under the Kenworth, Peterbilt and DAF brand names, posted second-quarter net profit of $319.2 million, or 90 cents a share, up from $291.6 million, or 82 cents a share, during the comparable quarter last year. Sales rose 6 percent to $4.57 billion....More

Near-record auto loans drive Ally profit higher  

NEW YORK, July 29 (Reuters) - Ally Financial Inc reported a greater-than-expected increase in quarterly profit on Tuesday as auto lending jumped 11 percent to the second-highest level in the company's history. The auto lender made a profit of $323 million, or $0.54 per diluted share, in the second quarter, compared to a loss of $927 million, or $2.73 per diluted share, in the same period of 2013. The company's year-ago results included a $1.6 billion charge related to a bankruptcy settlement involving its legacy mortgage unit. (Editing by Bernadette Baum)...More

UPDATE 1-TRW Automotive Q2 profit beats expectations; revs rise  

(Adds outlook, details on results, background on takeover target) DETROIT, July 29 (Reuters) - Auto systems supplier TRW Automotive Holdings Corp, targeted for takeover by ZF Friedrichshafen, easily beat Wall Street profit expectations for the second quarter on Tuesday as revenue rose 2 percent. Excluding one-time items, TRW earned $2.32 per share in the quarter, versus $2.02 a year earlier. Analysts expected earnings of $2.12 per share, excluding one-time items, according to a poll by Thomson Reuters I/B/E/S....More

Italy considering tax incentives for new car buying-minister  

ROME, July 29 (Reuters) - The Italian government is considering offering tax incentives to encourage new car purchases by both private and public sector owners, Transport Minister Maurizio Lupi said on Tuesday. "We are thinking of using fiscal levers to encourage a renewal of our car stocks," Lupi told reporters in parliament. "We are evaluating this project because that is what it means to have an industrial policy for this country," he said, giving no details....More

TRW Automotive revenue rises, beats analyst expectations  

DETROIT, July 29 (Reuters) - Auto supplier TRW Automotive Holdings Corp on Tuesday easily beat Wall Street second-quarter profit expectations as revenue grew 2 percent to $4.59 billion. The company's net profit rose 7 percent to $265 million, or $2.27 per diluted share, from $248 million, or $1.99 per diluted share, a year earlier. Excluding one-time items, TRW's earnings were $2.32 per share, from $2.02 a year earlier. Analysts polled by Thomson Reuters I/B/E/S had expected earnings excluding one-time items of $2.12 per share....More

Deals of the day- Mergers and acquisitions  

July 29 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 1030 GMT on Tuesday: ** French shopping mall operator Klepierre has agreed to buy Corio in a deal it said creates Europe's leading pure-play retail property company, valuing the Dutch real estate group at an enterprise value of 7.2 billion euros ($9.7 billion)....More

UPDATE 1-Thai auto sales seen down 31 pct in 2014, a 2015 growth - Toyota  

(Adds details on sales estimates, size of market, contribution to GDP) By Pisit Changplayngam BANGKOK, July 29 (Reuters) - Auto sales in Thailand are expected to fall 31 percent in 2014 after months of political unrest, but sales could recover in 2015 as the domestic economy and consumption improves, Toyota Motor Corp's Thai unit said on Tuesday....More

S.Africa metals workers start returning to job after 4-week strike  

* Metals strike followed historic platinum stoppage * One employer group says will not sign deal * Concerns about wage hikes exceeding inflation By Xola Potelwa and Wendell Roelf JOHANNESBURG/CAPE TOWN, July 29 (Reuters) - South African metal workers started returning to work on Tuesday after accepting a wage deal from employers, ending a four-week strike that dealt a blow to growth in Africa's most advanced economy....More

BRIEF-Hubei Radio and Television gets regulatory approval for assets acquisition  

July 29 (Reuters) - Hubei Radio and Television Information Network Co Ltd * Says gets regulatory approval for assets acquisition via share issue Source text in Chinese: Further company coverage: (Reporting by Hong Kong and Singapore newsrooms)...More

BRIEF-Jiangnan Mould & Plastic adjusts private placement plan after dividend  

July 29 (Reuters) - Jiangnan Mould & Plastic Technology Co Ltd * Says adjusts private placement plan after dividend, to issue up to 57.57 million shares at no lower than 10.77 yuan (1.7429 US dollar) per share Source text in Chinese: Further company coverage: (1 US dollar = 6.1794 Chinese yuan) (Reporting by Hong Kong and Singapore newsrooms)...More
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